Bonava Sells in the HMA

The Vantaa project is expected to be handed over to the customer and recognised in profit in the first quarter of 2020, while the Espoo project is expected to be recognised in profit in the fourth quarter of 2020.

"This transaction strengthens our position with respect to the continued development of well-planned and attractive neighbourhoods in both Vantaa and Espoo. The sale and the projects are aligned with our strategy to develop more rental apartments in Finland," says Joachim Hallengren, President and CEO of Bonava.

Both projects are planned so that the rental apartments are situated close to convenient transport links to the respective city centres, with green areas, shops and schools also located nearby.